Taiwan’s Kuokuang Petrochemical Technology is in discussions with the government to take part in the $120bn oil refinery and petrochemical project proposed by Malaysia’s state oil enterprise Petronas.

State-run oil refiner CPC Corporation Taiwan, which owns a 43% stake in Kuokuang Petrochemical, announced that the company plans to invest $10bn – $12bn in the mega project, if the talks are successful.

Kuokuang Petrochemical is now waiting for the approval of Taiwan’s authority for the new integrated complex in southern Johor, reports China Economic News Service.

CPC Taiwan also revealed that it will complete a feasibility study for the proposed cooperation project by May 2013.

The project will be capable of processing 10,000 barrels of crude oil per day and 800,000t of petroleum per year at initial stage.

Petronas is currently in talks with about ten potential partners for the development of the project and is expected to finalise the entire project by mid-2013.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.